Cypress Professional Insurance
In the sharing economy of today, many companies have cropped up and a few have been immensely successful in terms of their business strategy and business model. Some of these companies, like Airbnb, GoFundMe and Uber, have changed the way most people get in touch with the services they need. The home rental market is no different in this respect.
In the past, it was common for people to rent out their secondary house. However, now circumstances have changed significantly and many people have joined the bandwagon of renting out their primary house, or a room in their primary house for the purpose of earning some extra cash. This trend is common, especially during holiday seasons or during local events when there is a spur in demand for short-term rentals.
If you are considering renting out all or part of your house for a short period, keep in mind the potential risks before you take the leap.
Upon election, President Donald Trump promised to “repeal and replace” ObamaCare, the flagship healthcare program of former President Barack Obama. America’s healthcare system is a mess and many people were in the favor of revolutionizing the previous program in favor of something that would increase medical support for the public. Here are 5 ways how Trump Care Differs from ObamaCare:
1. Eliminating limits on Healthcare Savings
Under TrumpCare, individuals will be allowed to save double the amount in their healthcare savings while ObamaCare had placed specific limits on it. Now, Americans will not be forced to have insurance and larger companies will not be forced to insure their employees.
2. More Freedom for Insurance Companies
Insurance companies can now set their own prices, enjoying greater freedom. This means that older people may now have to pay 5 times the amount charged to younger customers previously. ObamaCare set a limit to three times the price.
TrumpCare is also set to expand Medicaid, a health care program funded by the state and federal government to support insurance for patients with debilitating illnesses, especially for those who are knee deep in poverty and for those who are handicapped.
3. Significant Cuts on Women’s Healthcare
Planned Parenthood, a nonprofit organization that provides reproductive health care, funded by the federal government will face funding cuts. Most hospitals are likely to suffer too as ObamaCare reduced the fee written off from uninsured patients, with unpaid bills.
4. Removing Fines for Uninsured Patients
ObamaCare issued fines for uninsured individuals and forced compensation out of large companies to cover the costs. The fines will be removed under TrumpCare; however, insurance companies can charge patients 30% premiums if payments are allowed to lapse for 63 days or more.
5. Introduction of Tax Credits
According to Republican supporters, TrumpCare will rely on the market and not on government control to offer healthcare.
On the basis of the individual’s income and age, refundable tax credits will be introduced to help Americans buy insurance. People over 60 years can claim $4,000 while individuals under 30 can receive $2,000 annually. The wealthiest divisions of the society will not be eligible for availing tax credits. Additionally, critics point out that TrumpCare may cause inland revenues to write off checks to people who do not pay the required amount in tax.
Some important points of ObamaCare will remain the same. For example, young adults under the ages of 26 will still be allowed to stay on their parent’s plan. Trump’s health care proposals aligns older conservative views. The initial costs are set to be high because repealing the entire Affordable Care Act includes subsidies, regulations and taxes.
Trump intends on solving the problem by using changing policies regarding immigration reforms, economy and taxes. However, he still hasn’t provided concrete details on how he intends on solving major issues related to health care policies and improvements.
Hiscox London Market has launched a new flood product for U.S. homeowners — FloodPlus. Working with wholesale brokers in the US to distribute the new product, FloodPlus offers higher limits and a wider scope of cover than policies provided by the existing U.S. government-backed National Flood Insurance Program (NFIP).
Hiscox’s FloodPlus coverage uses a simpler definition of what constitutes a flood, as well as broader cover for personal property plus alternative accommodation while the property is being repaired. Available for wholesale brokers to market to their retail broker clients, U.S. broker Johnson & Johnson has already begun to offer FloodPlus to its agency partners.
The coverages is available for homeowners across the U.S. with dwelling values of up to $1 million, Hiscox FloodPlus can be bought as a standalone cover or alongside Hiscox’s existing homeowners’ cover. Homeowners can choose to take similar limits to their NFIP cover, or elect to buy higher limits.
Additional coverage features include:
- Alternative accommodation
- Cover for outbuildings (even when unattached to the main dwelling) and does not reduce overall indemnity
- Worldwide cover for personal property
- Ease of administration — no need to obtain flood certificates
- Commission paid on whole premium.
Hiscox is a global specialist insurer, headquartered in Bermuda and listed on the London Stock Exchange. Our ambition is to be a respected specialist insurer with a diverse portfolio by product and geography.
Injured on the job? Well, you're not alone. An American worker is injured every seven seconds, 12,900 workers per day and 4.7 million a year, according to the National Safety Council. With the workforce expanding by 160,000 in April and a new class of college graduates joining the hunt, that figure could climb.
It's particularly true for younger workers who are just starting out in a new job. "More than one-quarter of injuries occur in the first year of employment," said Rich Ives, vice president of workers' compensation for Travelers Insurance.
American industry is in a multigenerational vise. About a third of all workers are fairly young, in the 18- to 34-year-old group. "Teenagers getting their licenses do have a high rate of accidents," noted Ives. And another third is getting older, with 55-plus workers growing all the time and experiencing more sprains and strains.
Travelers just released a five-year " Injury Impact Report " of 1.5 million workers' compensation claims in an effort to pinpoint where, why and how injuries occur -- and how much they cost. Workers' compensation insurance is a good barometer for serious injuries, because it pays when someone is hurt at work or acquires an occupational disease because of their previous job, such as black lung or mesothelioma. It covers serious injuries that require medical treatment, wage replacement and vocational rehabilitation.
Teen drivers spend countless hours dreaming of owning their first car. A fast sports car conjures exciting images, while an SUV has ample room for all of their friends—and both vehicles have one thing in common: Neither is a good choice for teens.
If you’re the parent of a teen driver, you may be wondering what you can do to help ensure his or her safety. Aside from knowing and honoring the rules of the road, safe teen driving involves operating the appropriate type of vehicle. In addition to researching auto insurance for teens, there are five tips to consider when choosing your teen’s first car. Designed to help protect young drivers, these suggestions focus on safety, which also helps to lower the cost of car insurance for teenagers.
Accident avoidance features in vehicles, such as automatic braking, adaptive cruise control, and lane departure prevention, are becoming more prevalent and will lead to lower accident frequency in the next five-to-10 years, a benefit for auto insurers. Longer term, self-driving cars could translate into significantly lower premiums and lower profits for insurers as the number of accidents declines dramatically, according to Moody’s Investors Service.
A new report from Moody’s noted that while self-driving cars will likely force auto insurers to rethink their business models, widespread adoption of this technology is decades away, allowing insurers plenty of time to adapt. In the near term, accident avoidance technologies will have a more immediate, positive impact on auto insurers.